Question: Please help me solve part C. Help me to correct the red boxes shown in the last photo. Pharoah Inc. is a private company reporting

Please help me solve part C. Help me to correct the red boxes shown in the last photo.

Please help me solve part C. Help me to correct the red

boxes shown in the last photo. Pharoah Inc. is a private company

Pharoah Inc. is a private company reporting under ASPE. The following selected account balances were reported in Pharoah Inc.'s financial statements at year end: Additional information: 1. Purchased $67,500 of equipment for $9,000 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $45,000. 4. Used cash to purchase land and a building. 5. Mortgage payments and notes payable payments included interest and principal amounts. 6. Common shares were issued for cash. (a) Your answer is correct. Determine the amount of any cash inflows or outflows related to investing activities in 2024. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).) (b) What was the amount of profit reported by Pharoah Inc. in 2024? Your answer is partially correct. Determine the amount of any cash inflows or outflows related to financing activities in 2024. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with either a - sign e.g. 15,000 or in parenthesis e.g. (15,000).)

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